Question

A baseball team plays in a stadium that holds 56000 spectators. With the ticket price at...

A baseball team plays in a stadium that holds 56000 spectators. With the ticket price at $8 the average attendance has been 22000. When the price dropped to $5, the average attendance rose to 28000. Assume that attendance is linearly related to ticket price.

What ticket price would maximize revenue?

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Found

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A baseball team plays in a stadium that holds 54000 spectators. With the ticket price at...
A baseball team plays in a stadium that holds 54000 spectators. With the ticket price at $9 the average attendence has been 24000. When the price dropped to $7, the average attendence rose to 27000. Assume that attendence is linearly related to ticket price. What ticket price would maximize revenue? $
A futbol team plays in a stadium that holds 72000 spectators. With the ticket price at...
A futbol team plays in a stadium that holds 72000 spectators. With the ticket price at $11 the average attendance has been 29000. When the price dropped to $8, the average attendance rose to 36000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $ Round to nearest cent.
) A baseball team plays in a stadium that holds 58000 spectators. With the ticket price...
) A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $12 the average attendance has been 23000. When the price dropped to $10, the average attendance rose to 29000. a) Find the demand function p(x), where xx is the number of the spectators. (Assume that p(x)is linear.) p(x)= equation editor Equation Editor b) How should ticket prices be set to maximize revenue? The revenue is maximized by charging $ equation editor Equation Editor...
A baseball team plays in he stadium that holds 72000 spectators. With the ticket price at...
A baseball team plays in he stadium that holds 72000 spectators. With the ticket price at $11 the average attendence has been 30000. When the price dropped to $10, the averege attendence rose to 36000. How should be set a ticket price to maximize revenue? $
A baseball team plays in he stadium that holds 66000 spectators. With the ticket price at...
A baseball team plays in he stadium that holds 66000 spectators. With the ticket price at $8 the average attendence has been 30000. When the price dropped to $5, the averege attendence rose to 33000. a) Find the demand function p(x)p(x), where xx is the number of the spectators. (assume p(x)p(x) is linear) p(x)=p(x)=     b) How should be set a ticket price to maximize revenue?
1. A baseball team plays in a stadium that holds 66000 spectators. With the ticket price...
1. A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $10 the average attendance has been 28000. When the price dropped to $8, the average attendance rose to 33000. a) Find the demand function ?(?)p(x), where ?x is the number of the spectators. (Assume that ?(?)p(x) is linear.) p(x)=   b) How should ticket prices be set to maximize revenue? The revenue is maximized by charging $ per ticket. 2. A rectangular storage container...
A soccer stadium holds 62,000 spectators. With a ticket price of $20, the average attendance has...
A soccer stadium holds 62,000 spectators. With a ticket price of $20, the average attendance has been 24,000. When the price dropped to $16, the average attendance rose to 29,000. Assuming that attendance is linearly related to ticket price, what ticket price would maximize revenue? Please show work
A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at...
A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at $10, the average attendance at recent games has been 33,000. A market survey indicates that for every dollar the ticket price is increased, the attendance decreases by 3,000. (a) Let x be the ticket price (in dollars). Find q(x) which represents how many people will attend the ballgame when the ticket price is x. (b) The ballpark’s revenue is R(x) = x · q(x)....
1. A box with a square base and no top is to be made from a...
1. A box with a square base and no top is to be made from a square piece of carboard by cutting 4 in. squares from each corner and folding up the sides. The box is to hold 17424 in3. How big a piece of cardboard is needed? Your answer is: _ in. by_ in. 2. A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $10 the average attendance has been 22000. When...
At a price of $16 per ticket to a stadium football game, 40,000 people attend the...
At a price of $16 per ticket to a stadium football game, 40,000 people attend the game. At $12 per ticket, 50,000 people attend the game. On average, everyone spends $4 on concessions. the capacity of the stadium is 60,000 people. With the information given we wish to construct the price function p(x) where x is the number of people in attendance. From this, we construct the revenue function R(x), the total amount of money taken at the stadium. WE...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT